Heimstaden Bostad AB (HEIMS) 2021-7

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EUR1,250.0003Oct-24Sr. Unsecured-BBBBBBFixedSwapsMS+80 aMS+60600.25%-99.98800
EUR750.0006.5Apr-28Sr. Unsecured-BBBBBBFixedSwapsMS+125 aMS+1101101%-99.73200
EUR750.00010Oct-31Sr. Unsecured-BBBBBBFixedSwapsMS+160 aMS+1451451.63%-99.85400
EUR600.000----BB+BB-FixedSwaps3.625-3.75%3.75%390.43.63%-99.42600
Tranche Comments
3 yr: Book size: 3100; Registration: Reg S Only; Comments: EUR1.25bn 3yr snr unsec RegS. IPTs MS+80 area, set MS+60 for 1-1.25bn, launch 1.25bn, bk >3.1bn. Allocs out, hedge by 4.40pm. Part of 3-tr 3y/L6yr/10yr. BBB/BBB. BNPP/DB(B&D)/JPM/Nordea/Citi/Danske/ING/Nyk/Sven/Swed/Uni. 1mPC, MWC, TBP today. UoP: acquisition of Akelius' properties in Germany, Sweden and Denmark. SEK notes may follow. FTT 7.45am Thurs . DBR 1 08/15/24 +96.3bp (@ 104.941) / HR 100%. MWC B+15. LEI: 549300ORG6UYMJBCV938; 6.5 yr: Book size: 1500; Registration: Reg S Only; Comments: EUR750m 6.5yr snr unsec RegS. IPTs MS+125 area, set MS+110 for 500-750m, launch 750m, bk ~1.5bn. Part of 3-tr 3y/L6yr/10yr. BBB/BBB. BNPP/DB(B&D)/JPM/Nordea/Citi/Danske/ING/Nyk/Sven/Swed/Uni. 3mPC, MWC, TBP today. UoP: acquisition of Akelius' properties in Germany, Sweden and Denmark. SEK notes may follow. FTT 7.45am Thurs . MWC B+25, 3mPC. DBR 0 1/2 02/15/28 +150.2bp (@ 106.2) / HR 93%. LEI: 549300ORG6UYMJBCV938; 10 yr: Book size: 1500; Registration: Reg S Only; Comments: EUR750m 10yr snr unsec RegS. IPTs MS+160 area, set MS+145 for 500-750m, launch 750m, bk 1.5bn. Part of 3-tr 3y/L6yr/10yr. BBB/BBB. BNPP/DB(B&D)/JPM/Nordea/Citi/Danske/ING/Nyk/Sven/Swed/Uni. 3mPC, MWC, TBP today. UoP: acquisition of Akelius' properties in Germany, Sweden and Denmark. SEK notes may follow. DBR 0 08/15/31 +182.1bp (@ 101.79) / HR 91%. MWC B+30. FTT 7.45am Thurs. LEI: 549300ORG6UYMJBCV938; P NC 5.25: Book size: 950; Redemption: 2027-10-13; Registration: Reg S Only; Comments: EUR600m PNC5.25 (3mPC) hybrid. -/BB+/BB+. Arctic/Citi/JPM(B&D)/Nordea/Swed. Part of 5-tr snr/hyb. IPTs 3.625%/3.75%, guidance 3.75% (the #), launch 600m, bk >950m. PNC8 dropped. MS+390.4 / OBL 0% 10/26 #184 (Price 102.792) +429.9 . MWC B+ 50. FTT 7.45am Thurs. LEI: 549300TJR3PR8EXILG79;
Deal Comments
Hybrid (perp). Joint Bookrunners: BNP, CTI, DAN, DEU(B&D) (3yr, 6.5yr, 10yr), ING, JPM(B&D) (perp), NRD, NYK, SVN, SWD, UNI
Guarantor(s)
Heimstaden Bostad AB (3yr, 6.5yr, 10yr)
Use of Proceeds
M&A